Tuesday, September 01
ET Intelligence Group: Meesho, an e-commerce platform, plans to raise ₹4,250 crore through a fresh issue for investment in cloud infrastructure and capital expenditure. It will also raise ₹1,171.2 crore through an offer for sale. The company plans to spend ₹480 crore or over 11% of the fresh IPO proceeds to pay salaries of employees hired by its subsidiary which undertakes technology development. The promoter group's stake will fall to 16.3% after the IPO from 18.5%. Meesho generates revenue from services like order fulfilment, ads, and insights. The company's loss has increased in FY25 from FY23, but it has reduced in the six months to September. It is still generating losses on Ebitda level. Given these factors, investors may wait to see stability in financials after the listing.
How low can President Donald Trump go? One answer is his Thanksgiving Day social media screed, trashing America as “divided, disrupted, carved up, murdered, beaten, mugged, and laughed at,” because of the immigration policies of leaders like Minnesota Governor Tim Walz, whom he called “seriously retarded.” (This was after two National Guardsmen were shot, one fatally, by an Afghan refugee in an ambush attack near the White House.)Another is “quiet, Piggy,” the derogatory insult Trump directed at a Bloomberg White House correspondent after she questioned him about what he knew about Jeffrey Epstein, just one of the many slights Trump has recently hurled at women who ask him tough questions. And there was Trump’s suggestion that execution could be a punishment for six Democrat
Mumbai: Nomura has set its price target for the Nifty for 2026 at 29,300, implying an upside of close to 13% from the index's Tuesday closing level. ICICI Bank, Infosys, Bajaj Finance, Mahindra & Mahindra, Axis Bank, Titan, Ultratech Cement, Godrej Consumer Products, LG Electronics, CG Power, Swiggy, Dr Reddy's, Dixon Technologies, Alkem, Mahindra Finance, Sona Comstar, eClerx, Aditya Birla Real Estate and MedPlus are its top picks. "A positive view on valuation is now underpinned by calmer geopolitics, stable macros, and a cyclical recovery in economic and corporate earnings growth," said Nomura in a client note. "Furthermore, the Indian equity markets have underperformed most global markets over the past 14 months, and thus the valuation premium is now aligned to historical averages.
Mumbai: Yes Bank and Union Bank of India are set to enter NSE's Nifty Bank as part of the changes in the index's composition methodology mandated by the capital markets regulator. With these inclusions, the exchange's banking index will comprise 14 stocks from December 31, against the current 12. The additions are part of the Securities and Exchange Board of India's (Sebi) move directing exchanges to have at least 14 stocks in non-benchmark indices such as BSE's Bankex and NSE's Bank Nifty and Finnifty that are eligible for being traded in the derivatives. The regulator also recommended limits on weights for each stock and the top three constituents. They are aimed at reducing the influence of any stock or a set of stocks on the indices.125730821 Accordingly, NSE has capped the total weigh
The Delhi High Court has opened a new chapter in India’s fast-expanding obesity and diabetes drug market by allowing Dr. Reddy’s Laboratories to manufacture and export semaglutide, the active ingredient behind Novo Nordisk’s blockbuster weight-loss drug, The Times of India reported.The order follows the court’s view that Novo Nordisk’s patent appears prima facie invalid -- a finding that could reshape competitive dynamics in a market valued at around Rs 850 crore.The development arrives at a time when global demand for weight-management drugs is surging and supply remains constrained. With semaglutide’s patent set to expire in March next year, Indian companies have been preparing to enter the field, anticipating a wave of generic launches.The court’s ruling is likely to bolst
